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Discussion Starter #1 (Edited)
Hi Everyone, another dreamer here. Started reading some random topics on the forum and really enjoying it, love the overall vibe of most of the conversations and how everybody wants to help each other out. I must admit I currently don’t have any particular value to add (as of yet) but I’ll just share my situation here, maybe some fellow dreamers can identify with me..

I decided I will own a Lambo at some point in my life, not because of the status or anything but more as sort of a milestone of success. The things I have to go through to get there, how I will have to go out of my comfort zone and develop myself. I think it’s not really the idea of owning the car that inspires me, but more the whole process of working my ass of and as a result (or reward) being able to afford it. When I will own one I probably already have another goal to go after, which is great I think :)

I’m not gonna ask what all you guys do for a living, I’m pretty sure I will find my own way. I’m currently 25, when I was 18 I started studying mechanical engineering, right from the start it didn’t really resonate with me but I told myself to not be a pussy and just stick with it. I thought my best strategy to have a happy life would be to study hard and get a good job as an engineer..
At around my second year I got a bit bored so I started learning programming in my free time and learn about 3D animation and visual effects. Before I knew it I started selling 3D animations and started my first "business".
Did that for a bit, made some money while I was studying but it was more like freelancing. At some point I was working on an animation for a client but didn’t have enough computing power to finish it in time.. I tried to train myself to reframe any problem to an opportunity so I thought about it and decided to start a second business that solved this problem for other 3D freelancers and studios.
After a year of part-time studying and part-time running the business I just decided to cut the crap, drop out of University and go 100% for the business. It was a bit scary because I didn’t have a backup anymore but I think this was actually a good thing, it pushed me in the right direction.
The business is now running for 3 years, I invested part of my student-loan into it to hire a professional programmer (after validating the idea and concept), reached break-even almost a year ago and so far I can live modestly from the profit it generates. It’s growing with an average rate of about 6.5% per month on average, so doubles about every year. (of course this is no guarantee for the future, but it’s a nice growth rate I think).
I’m at the point where I’m thinking about getting investors involved to kind of "kick-start" the growth of the business.

Some stuff I do to develop myself: I meditate. I read lots of books on personal growth, business and biographies of people like Richard Branson, Steve Jobs and Jeff Bezos. One I like especially is "The Millionaire Fastlane" from MJ deMarco, read that and listed to the audio version like 3 times while driving. To stay on track I try to write down my goals on a daily basis.

I have a mentor who I see a couple times a year (he’s very busy) and helps me with some of the struggles I have while running my business. I found him simply by hanging out and becoming friends with other business owners and he really enjoys passing on his knowledge to young entrepreneurs.

The goal of this post? I just hope to meet some like minded people here, talk cars, maybe talk business, who knows. This will definitely not be my last post on here ;)
 

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You seem to be moving in the right direction and have a level head.
Reading about your move from Mech Eng to animation it seems you have learned to very first and important step. You must love what you do to have a career and be successful, you can have a good job doing what you don't really love but you will never be truly successful if you are looking at the clock wondering when you can go home, rather you should look at the clock and think wow is it really that late.
 

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It is nice seeing another entrepreneur in my age group striving for the same goal end of the day. My only suggestion is to turn that someday into a goal with a deadline where you feel comfortable and work towards it.

Also you are very fortunate to have a mentor to assist with your business. I am not in that situation myself and have to figure everything out with minimal help if any.

Keep it up and you will get a Lamborghini.
 

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Discussion Starter #4
You seem to be moving in the right direction and have a level head.
Reading about your move from Mech Eng to animation it seems you have learned to very first and important step. You must love what you do to have a career and be successful, you can have a good job doing what you don't really love but you will never be truly successful if you are looking at the clock wondering when you can go home, rather you should look at the clock and think wow is it really that late.
Thanks for replying Rb. You're right, moving to animation was what I loved (and still do). After all I gave up my free time for it ;)

It's funny how I always looked forward to the weekends and hated Mondays when I was still in school (and not doing what I loved). Right now, the day of the week is not affecting me at all. I work when I want, which is almost every day. And it's not uncommon for me to leave my office after midnight.
 

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Discussion Starter #5
It is nice seeing another entrepreneur in my age group striving for the same goal end of the day. My only suggestion is to turn that someday into a goal with a deadline where you feel comfortable and work towards it.

Also you are very fortunate to have a mentor to assist with your business. I am not in that situation myself and have to figure everything out with minimal help if any.

Keep it up and you will get a Lamborghini.
Thanks for the input, yeah I'm aiming at ~5 years from now to be able to have one. I do set other goals, mainly for my business, which are more explicit and it really helps.

Yep, I realize I'm very fortunate to have a mentor, here's how it happened: The first time I met him was just briefly at my office, my friend (who I share the office with) had a meeting with him and right from the start I noticed when this guy talked, pure gold was coming out of his mouth. So the second time my friend had a meeting with him, I just asked if I could join in and just make notes silently. They were fine with it and after a little bit "the mentor" started asking me questions about my business and giving me some advice. I was writing down everything and showing massive appreciation for it, he noticed that.

The fact that I took his advice and implemented it fairly quickly made him like me and he offered to help me some more. He feels kind of the urge to help young people and pass the knowledge. So yeah, it's a mix of luck and being ready to jump on the opportunity. I had the idea of having a mentor for quite some time so when I met this guy for the first time some bells started ringing ;)

So, just be alert, be prepared, spend time among other entrepreneurs and when the opportunity hits you you'll be ready to grab it ;) Keep it up.
 

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Discussion Starter #6 (Edited)
Small update.

I've been working hard on my business, currently focussing mostly on marketing. I'm also in the process of becoming a co-founder of another startup which is pretty exciting, we'll see how that pans out :)

A little while ago my awesome girlfriend gave me a very cool gift: driving a Gallardo on the open road for 20 min. So now I actually know how it feels to drive around in one of these babies :3 I loved it, the sound, the feeling, the power.. Of course 20 minutes is way too short but it got me even more motivated to make this happen :D


A yellow 2006 pre-lp spyder. I had to leave it in automatic mode which was unfortunate but understandable. I did open it up a few times on some quiet roads :)
 

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Welcome. I think you have discovered two important things.1.Doing what you love is a sure fire formula for success.2.Taking advice from successful people will help you more often than not. You should absolutely put a date on the lambo purchase. Post a picture of it over your desk where you look at it a lot. Be careful diving into partners or investors. If you can grow the company yourself without giving up equity, you will have much more autonomy and control in your decisions. Remember , investors and partners are only concerned in what is good for them not necessarily what may be good for the business. It is also difficult to know if your investors or partners have the same moral compass as you. That can cause huge problems. It is easy to borrow money for capital improvements. There are lots of a b and c money lenders even hard money lenders. At least you keep all your equity just don't overload with debt. If an expenditure of 10K for example will increase income by 20K per year then it is an easy decision. If an expenditure of 50K has a 5 year payback then what the @#$%$ are you thinking. Many small business startups saddle themselves with too much debt trying to grow too fast and later go broke paying the bills. Build up your reserves and net worth . Borrow only a small portion of the asset so you could sell it in a crisis. Live Cheap, work hard and build cash. That will make banks and lenders much more willing to give you loans on needed equipment and expansion. Good Luck. Lee
 

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Discussion Starter #8
Thanks for the advice, Lee. Although I've heard mixed things about doing something you love.. I guess it's good for the passion and dedication you can put into it, and you don't need as much willpower and discipline to work on it as opposed to something you don't really love. But on the other hand I've heard people say you should not do what you love cause that's kind of selfish, instead you should try to find needs, painpoints, etc. that others have. MJ DeMarco who wrote the Millioinaire Fastlane mentioned this in his book (he's "self-made" and also owned a few Lambos so I respect his advice :p). But yeah, I guess finding needs and solve them by doing something you love is the sweet spot :)

I have a picture of the Gallardo I drove as my desktop background and screensaver. I've also set a date, wrote it today along with some of my other goals which I write down (almost) daily and I even set an event in my calendar at the day I will buy it. I will add it to my daily affirmations as well (write it on the mirror).

I'm sure trying to live cheap for the coming years and build up some net-worth.

With my current business I guess I'm still managing to keep 100% equity myself. I currently just hire designers/programmers as needed on a freelance basis.

About the new startup, it was actually not founded by me. It was started a year ago by 2 others and I made kind of a bold move to say I want to be part of it (in exchange of a lot of value from my side of course). They agreed :) So there I don't have a lot of choice but to share equity of course, but I actually think it's a good learning experience for me to work with some co-owners. We're in the process of getting all paperwork done, will hopefully be done early 2017.
 

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If you can do what you love and make lots of money that is near perfection. Money is not everything. I am selling a very profitable business right now to pursue my dream of being a mad scientist inventor. I have been an inventor since I was young but found it difficult to translate those ideas into income. I invented a working robotic /radio controlled lawnmower in 1983 only to run out of money during the patent and certification process. It was very frustrating having great ideas and no money so I pursued many different business ventures until I made enough to realize the dream and live the way I like to. Build your business to generate enough income to get you where you need to be and follow opportunities as they arise. One word of advice on the partnership. Put everything in writing INCLUDING an agreement to buy or sell in case you all do not see eye to eye in the future. Right now they need you so negotiate a buyout of them that looks great to them now.(Like an option to buy their shares for 100K) If the company grows a lot due to your input then you may want to exercise that option or use it to gain controlling interest. Put a number in it that is a wow number today. If you never use it then nothing lost.Good luck. Lee PS What is the date on the lambo?
 

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Discussion Starter #10
Nice, that sounds exciting. When I was around three years old I always said I wanted to be an inventor. Some years later I kind of forgot about that or thought it was weird, but now it seems I'm moving back to that (3yo) mindset again :p

I will make sure we write everything down in an agreement with our solicitor, but negotiating an option to buy their shares (cheap) seems a bit hostile.. I want to start this on good terms and build trust along the way. But we will definitely write down what will happen if anyone wants to cash in or when others want to join the party and all these kinds of situations. Did you ever experience these kind of things (partner buyouts and such) with your business partnership(s)?

July 1st, 2021 I will buy a used Gallardo, not sure what color yet.

Thanks again for your advice Lee!
 

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I have found many partnerships to turn out poorly. That is why you should protect yourself from the beginning. It is amazing how much memory lapse and selective memory occur when money is concerned. Negotiate the absolute best deal you can at the outset. Don't worry so much about being a hard bargainer, you will be glad you did in a few years. If they accept it too quickly you probably left money on the table. If it upsets them that you are trying to protect your interest then maybe you don't need them as partners.
 

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Thanks Lee, I will pay extra attention to this. I planned a meeting with my mentor this Friday and will definitely ask for his advice on it too! Will post updates whenever I have any.
 

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Thanks for the input, yeah I'm aiming at ~5 years from now to be able to have one. I do set other goals, mainly for my business, which are more explicit and it really helps.

Yep, I realize I'm very fortunate to have a mentor, here's how it happened: The first time I met him was just briefly at my office, my friend (who I share the office with) had a meeting with him and right from the start I noticed when this guy talked, pure gold was coming out of his mouth. So the second time my friend had a meeting with him, I just asked if I could join in and just make notes silently. They were fine with it and after a little bit "the mentor" started asking me questions about my business and giving me some advice. I was writing down everything and showing massive appreciation for it, he noticed that.

The fact that I took his advice and implemented it fairly quickly made him like me and he offered to help me some more. He feels kind of the urge to help young people and pass the knowledge. So yeah, it's a mix of luck and being ready to jump on the opportunity. I had the idea of having a mentor for quite some time so when I met this guy for the first time some bells started ringing ;)

So, just be alert, be prepared, spend time among other entrepreneurs and when the opportunity hits you you'll be ready to grab it ;) Keep it up.
Great attitude and perspective. I wish you the best of luck!
 

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Long time no update. I was actually being a little procrastinator with this because I wanted some "event" to happen to talk about.. anyways, got some updates now.

So I've been busy setting up a new business with 2 other founders. I've been very careful with the whole process of coming up with the shareholders agreement trying to get opinions of lots of other "unbiased experts" and I have a good feeling about it. We're going to produce physical products using new technologies (3D scanning / 3D printing). Really excited about this. We already got some great ambassadors (big names) on our side.

My other online service, which I own for 100%, is growing steadily. First quarter of '17 was the best quarter I've had ever in terms of revenue. I'm slowly involving more people (freelancers) into it, trying to get the best people instead of cheap and I found some new talents that seem to have a passion for the industry, apart from being motivated by their hourly rate.

Finally, I've been Skyping a lot lately with some entrepreneurs / programmers who are working on setting up a cloud computing platform. We're talking about doing some sort of vertical partnership, trying to take things slow with this and take small/cheap steps and try to do little tests to find out fast if this will work. It could potentially become very big, but it'll be a very big technological challenge too. If I really want to push through with this at some point, I either have to do a step out of my comfort zone and start looking for investors, or find some programmers who could become co-founders to set this up collaboratively with "sweat-equity".

Overall, I'm hustling hard, working 80+ hours a week and going to the gym 5x a week, reading books daily, meditating daily, cold showers daily.. Just trying to cultivate my discipline. I feel like I'm motivated in waves, sometimes I'm motivated to work, sometimes not. Whenever I'm not, I should have the discipline to keep going and not lose momentum.

By the way, I saw an Aventador driving the highway today (first time ever seeing one in the wild). It's just so ****ing cool, such a contrast against the mainstream boring cars... damn :D
 

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Congrats on the success. Sounds like my early regimen. At 56 I still work out 3 days a week for 2 hrs ea. (I am typing this while at level 13 on the stairmaster) I only work about 50 to 60 hrs a week now. I think everyone will agree that perspiration usually beats inspiration but together they almost always succeed. I work less hours now but spend more time pursuing deals with higher potential. I am just more selective with my time. Always remember " you can be tired or you can be broke but to be both is stupid" Lee
 

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That's a nice quote, Lee, thanks :)

Long time no update from me, which is probably a good thing. If I was writing here all the time I’d be unfocussed as *** On the other hand I don’t want to be responsible for one of those abandoned topics of forgotten dreams.

So the update: I’m kind of trying to take a week off, which I wasn’t able to do in a long time since customer support has always been my top priority. I always had to check the support inbox a couple times a day. Fortunately now I have hired a freelancer who’s helping me with customer support, because finally the revenue starts to allow this. This is a really big milestone for me because it literally gives me a ton of freedom.

I’ve been working with him since January, building up a "relation" of sorts and building trust. A few weeks ago I finally gave him full access to the backend of the business. He’s able to handle refunds and everything. It feels great to finally have some help in this area!

I’m occasionally checking in how he’s doing (still have to get used to letting go), but it’s been awesome so far :) He already issued a few refunds, I told him he can be really "liberal" with this because customer satisfaction is way more important than short term revenue. And with one customer he actually issued a refund while I may not have done it that easily.. but today that customer returned and we made a sale 4x the original (refunded) sale :)

Few days ago at the airport I saw my first Aventador, and yesterday a Murcielago. They look soooo much better in real life than on pics / youtube vids! For me, experiencing these bulls in real life is just a nice cherry on the "cake of motivation" ;)
 

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RiPe - actually I think it is the opposite. There are how many Dreamer threads that have not been updated in months or even years. It only take a few minutes to post a short update to show that you are still working towards your goal. but that is just me.

Keep working towards your bull, looking forward to the day you post that you have purchased one.
 

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RiPe - actually I think it is the opposite. There are how many Dreamer threads that have not been updated in months or even years. It only take a few minutes to post a short update to show that you are still working towards your goal. but that is just me.

Keep working towards your bull, looking forward to the day you post that you have purchased one.

Man, you might be right!

Ok, it's been quite a while since I updated but I'm still alive and going :)

I'm currently in a mastermind with other entrepreneurs. We set daily goals/tasks and make sure these are proper tasks that bring the business forward. Every day (no excuses, even on Christmas day) we have a brief Skype meeting and discuss things.

If you don't show up or complete your daily tasks, you get kicked out of the group.

This has really forced me to focus on meaningful tasks, I love it. Lot's of people think I'm weird and working too much but I truly enjoy it an often times find it hard to explain. Especially to people who don't like their work.. but yeah I try to keep going without getting influenced by those comments.

I also came up with a new business idea. I'm in the process of validating it now, but it looks promising. It will be kind of a SaaS thing for videos, and the good thing is that I can re-use 80% of the platform I already have built, so it won't require a crazy high investment in both time and money. I actually already sold the idea to someone for 100/month (with a free trial month) :)

So yeah, that's where I'm at. About to map out my new goals/vision for the next year, which is always interesting.

I wish you all a wonderful Christmas! Cheers




Sent from my iPhone using Tapatalk
 

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Merry Christmas, I hope you are making your path towards success. What was that date and model Lambo you are GOING to buy. Lee
 
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